MyGubbi – Transforming the Home Décor Space

MyGubbi is transforming the home interior solutions landscape by developing tech platforms which help integrate unique designs along with excellent sourcing capabilities and operational efficiency.

This enables scalability across geographies. MyGubbi’s approach to design is holistic and solution led wherein a home is designed based on a theme/style which is personalised to meet the customer needs. MyGubbi also offers an expansive warehouse of curated designs which aids as an inspiration for the customer to achieve their dream home.

Ecosystem Orchestrator:
MyGubbi solution pans from fixed furniture such as modular kitchens & wardrobes to movable furniture such as storage units, dining tables, beds and more. Services also include an end-to-end solution which comprises false ceiling, wooden flooring, lighting, curtains, styling elements and more.

MyGubbi services are stemmed from predictability and accountability wherein the services are delivered to the customer within 45 days. The relation between the customer and MyGubbi team is completely transparent, ensuring that the customer is fully aware of the day to day development of their service.

Ideation:
Interestingly, MyGubbi’s inception was not an overnight idea. When the co-founders Umesh Sangurmath and Ravi Rao were setting up their own homes, they did find multiple options and designs which were finalised, but they were left highly disappointed when they could not source the right materials to fit the design and they were further appalled with not being able to find the right kind of people to implement their designs. This led to the birth of MyGubbi in September 2015.

Business Model:
The start-up addresses a key challenge in the execution of home interiors by providing end-to-end solutions from designing to execution, along with the flexibility of customization, using the flexi capacity of existing manufacturing facilities. Furthermore, the products across categories are sourced through the partner ecosystem. MyGubbi’s approach to marketing is digitally led, from building awareness to customer acquisition.

This approach has witnessed high levels of synergy with their target audience, as most of them are the “always online customer”. Apart from the digital platform, they have also associated with Architects & Interior Designers and struck strategic partnerships with developers. The young and vibrant start-up has also set up experience studios at Bangalore, Pune, Chennai and Mangalore, where customers can come and experience the quality and range of offerings. The company until date, has designed & delivered over 250 homes, and witnessed 10x growth since inception.

Challenges and Opportunities
The online furniture market size in India is estimated to be around $30 billion, providing a huge scope for players to thrive. Yet with opportunities come challenges. Fragmented market is a huge challenge when it comes to reaching out to end consumers. From the business perspective, companies should aim at providing an all-in-one unified platform, which would address the specific needs of the customers.

Few of the other challenges include, the design cycle, which is a lengthy process as it involves personalizing every inch of the customer’s home to their taste. MyGubbi has addressed this by developing an integrated design work bench which helps reduce the design cycle. Another major challenge would be the price point comparison to that of carpenters.

Most customers do a comparative price check with that of carpenters, hence MyGubbi lays an emphasis on informing and educating customers that their products which are manufactured with precision engineering and offer 5 year warranty and 1 year AMC along with providing an end-to-end solution for home décor.

Although the home decor industry is a fragmented one, there are multiple opportunities to flourish. Every year almost 1.5 million new homes are being made, creating an opportunity of INR 600 billion, and 1.8 billion homes are being refurbished every year, thereby creating an opportunity of INR 400 billion. Home interior design is a high touch point and large ticket size business that needs high-service delivery standards and MyGubbi is making the right investments in building a strong model to establish service delivery standards that will be hard for others to emulate.

Investment Raised
The company has raised $2.5 million in seed funding from multiple angel investors led by Vipul Parekh, co-founder of Big Basket, AnandaKallugadde, Co-founder of NeoBytes and Rajesh K Murthy, EVP of Infosys, to set up innovative technology driven systems and processes required for an online business.